Mongolia: we want to be Chile | beyondbrics: "What do you do if you’re a small country, rich in minerals that went from boom to bust when the bottom fell out of the commodities market? Copy Chile, is the answer.
Chile’s experience as a small, copper-dependent economy that prudently stashed cash during the boom years, allowing it to ride out the 2008-09 world economic crash and uncork anti-cyclical spending, was the perfect case study for Mongolia.
The central Asian country is poised for a eye-popping boom: its economy is expected to treble in size in the coming years as giant projects come onstream, among them Oyu Tolgoi, which is due to start up next year and to become one of the world’s five biggest copper-gold mines. Non-mining investment is also growing fast."
'via Blog this'
